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The 2018 Yellow Book went into effect in June 2020 for audits, reviews, and attestation engagements. This course focuses on the key changes ranging from independence, quality control and peer review, waste and abuse, and Yellow Book CPE requirements. This will cover the major changes from the 2011 version and how these changes will impact current year audits. We close with some considerations issued by GAO on how COVID19 will impact Yellow Book audits including impacts on risk assessment, evidence, and quality control.

Learning Objectives

  • Recognize changes in the 2018 Yellow Book.
  • Identify alerts issued by GAO addressing COVID19.
  • Explore the major changes from the 2011 version and how these changes will impact current year audits.
Last updated/reviewed: September 19, 2021

Included In Certifications

This course is included in the following Certification Programs:

5 CoursesIntermediate Yellow Book Certification

  1. Not-for-Profit GAAP Update
  2. Government GAAP Update
  3. Uniform Guidance Update
  4. Yellow Book Update
  5. Common Yellow Book & Single Audit Deficiencies

1 Review (2 ratings)Reviews

4
Anonymous Author
The course was well presented and accomplished the goals of updating information concerning yellow book auditing.

Prerequisites

Course Complexity: Intermediate

Prior experience with GAGAS.

Education Provider Information

Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact:
For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Course Syllabus
INTRODUCTION AND OVERVIEW
  4:56An Overview to Yellow Book Update
  15:50Independence
  19:11Quality Control and Peer Review
  7:29Waste and Abuse
  2:39Reviews of Financial Statements
  11:05CPE
  11:22CPE Cont'd
  4:06Miscellaneous and Effective Dates
  12:04COVID 19 Impact
  12:04COVID 19 Impact Cont'd
CONTINUOUS PLAY
  1:40:46Yellow Book Update
SUPPORTING MATERIAL
  PDFSlides: Yellow Book Update
  PDFYellow Book Update Glossary/ Index
REVIEW AND TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM